Gold's 3,000-3,500 Range May Define the Global Economy in 2H - Whether gold maintains its record-setting pace is a top macroeconomic question for 2H. My bias is that the store of value is front-running the limits of US stock market capitalization at 2x GDP and 100,000 Bitcoin, with implications for the global economic outlook. Gold falling toward 3,000 an ounce could coincide with new highs in the S&P 500 and copper. Staying above 3,500 may entail deflation. Full report on the Bloomberg terminal here: https://blinks.bloomberg.com/news/stories/sy5g27dwrgg0 {BI COMD} #gold #copper #metals #stockmarket #macroeconomics @BBGIntelligence